The RSI is one of the best indicators to predict bitcoin sustained movements - this vertical analysis between bitcoin and RSI shows the potential outcomes based on the last 2 months of bull market data
For the a strong move upward the RSI needs to break the 61.17 level
The 49.77 level is a support in which we could see a bounce towards the 61.77 level
A drop below the 61.77 will result in a further drop into the 49.66-46.43 range (54k zone btc\usd)
Finally a drop below 46.43 would indicate the end of this bull cycle (the last time we saw this was the flash crash in March 2020 due to COVID)
For the a strong move upward the RSI needs to break the 61.17 level
The 49.77 level is a support in which we could see a bounce towards the 61.77 level
A drop below the 61.77 will result in a further drop into the 49.66-46.43 range (54k zone btc\usd)
Finally a drop below 46.43 would indicate the end of this bull cycle (the last time we saw this was the flash crash in March 2020 due to COVID)